Cracks in the Market

Easy tiger

The SPX vs bank reserves at the Fed gap is very wide here...

Source: Refinitiv

Broken bond volatility

Source: Refinitiv

Flipping

Source: GS

Source: GS

As Apple goes...

Source: Refinitiv

Short term breadth

Source: Tiewr1Alpha

Investor sentiment has shifted further ahead of economic sentiment

Source: Goldman

$5.2bn every day next 10 years

Source: BofA

Oil

Source: Refinitiv

Oil volatility doesn't care about no equity stress

Source: Refinitiv

Energy hotter than tech

Source: Refinitiv